Interesting comments from "Trader" Dan Norcini. On the bright side yesterday gave us a buying opportunity. For disclosure I added to my ATV position at 6 cents.

from JSMineset:

Dear CIGAs,

One development occurring in the midst of all this volatility is the seeming change occurring within the global investment community in regards to the US Dollar. The Dollar has historically been the ultimate safe haven currency during times of economic or geopolitical uncertainty. Just look back at the rally it staged in the latter part of 2008 as the Yen carry trade was unwound and a rush to the safety of the Dollar occurred when the “risk trades” were taken off.

Recently it appears that whenever we see some sort of political or economic uncertainty the Dollar gets its usual knee jerk safe haven bid but then begins to fade and give up a large portion of its gains as the trading session wears on. The main beneficiary for a safe haven currency trade has become the Swiss Franc.

The Swissie has always been a safe haven currency but so too has the Dollar. The fact that the Dollar is so weak, even during a period in which a massive rush out of the risk trades is most significant in my opinion. It suggests that sentiment is building against the Dollar and that more and more its status as the sole global reserve currency is becoming shakier with the passing of each week.